Irvine, CA Office Overview

The Irvine city proper office market includes the East Industrial, Oak Creek, and Woodbridge
submarkets. Situated in Orange County, Calif., with a city population of over 250,000 people
and a County metropolitan population of over 3 million, the demand for Class A white collar
office space in Irvine is driven by a wide variety of business and industry.

As of mid-2017, the Greater Irvine office market encompasses over 35 million square feet of
existing office space in properties larger than 50,000 square feet. With numerous corporate
headquarters and a growing high-tech sector, the demand for office space in Irvine remains
robust.

Irvine, CA Office Inventory Description

National and international headquarters employment, higher education, and high technology,
all contribute to the strong demand for office and commercial real estate in Irvine, Calif. With
the Orange County gross metropolitan product at nearly $200 billion annually, there is ongoing
demand for white collar office space in the Irvine metro area. Nearly 54% of the office space in
Irvine is Class A or A+, with Class B office product adding another 46% of inventory to the office
market.

The UC Irvine office submarket at the University of California Irvine sees some of the strongest
demand for Class A office space in Irvine. Office buildings clustered around the University and
Biomedical Research Center include the 23 University Research Park buildings along California
Avenue.

Irvine, CA Commercial Inventory Breakdown

Office Spaces

Total: 41,517,703 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

50k to 100k SF: 12,612,341 SF / 30.38% of total office

100k to 500k SF: 25,354,057 SF / 61.07% of total office

500k to 1M SF: 2,251,305 SF / 5.42% of total office

&gt 1M SF: 1,300,000 SF / 3.13% of total office

By class:

Class A+: 1,379,237 SF / 3.32% of total office

Class A: 19,995,143 SF / 48.16% of total office

Class B: 18,274,323 SF / 44.02% of total office

Class C: 98,925 SF / 0.24% of total office

Irvine, CA Green Office Space

Of the Top 30 Green Office Markets in the U.S., Orange County ranks 13 th for energy-efficient
office buildings. While nearly 4% of the office buildings larger than 50,000 square feet are LEED
certified, over 10% rank as Energy Star Certified and nearly 11% are recognized as green
buildings.

The most recent National Green Building Adoption Index analyzed office property in the thirty
largest U.S. metro areas, looking at the percentage of energy-efficient buildings. Orange
County, including Irvine, placed 13 th in this survey. Over the past 12 years, the percentage of
green certification has increased by less than 5% to about 38% in 2017.

The Irvine Concourse office building at 2050 Main Street is a beautiful example of a green
building in Irvine. Awarded a LEED Silver certification, this 314,000-square- foot Class A office
property was built in 2007 and is just one of the many LEED projects in Orange County.

Irvine, CA's Top Office-Using Sectors

Higher education institutions and the business they attract, technology, and the health care and
bio-sciences industries all contribute to the powerful demand for Class A office space in the
Irvine CA commercial real estate market.

Corporate Offices – A large part of the demand for white collar office space in
Irvine comes from the numerous companies that have their international and North
American headquarters in Irvine, including Asics, Samsung Electronics, Shimano, Toshiba,
and Kia Motors.

Irvine Demographics

Population

Total Population256,877

Male Population(48.5 %) 124,653

Female Population(51.5 %) 132,224

Median Age34.40

Income/Financial

Average Household Income$125,316

Median Household Income$95,573

Median Income Under 25$11,107

Median Income 25-44$100,911

Median Income 45-64$116,610

Median Income Over 65$67,749

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